Where else can I choose overseas insurance besides Hong Kong?

With the change of China residents' insurance concept, this once inevitable "unlucky" guarantee has become a new investment and guarantee means for China people. Compared with several single insurance products in the mainland, more high-net-worth families choose overseas life insurance, and Hong Kong, which has the advantage of getting the first month, has become the first choice for insurance. It is common for mainlanders to buy insurance in Hong Kong. The advantages of cheaper insurance premiums, wider coverage, global claims and higher income in Hong Kong attract high-end users in the Mainland to buy insurance.

According to the statistics of sohu finance, the amount insured by mainland customers in Hong Kong in 20 10 was only HK$ 4.4 billion, reaching HK$ 24.4 billion in 20 14, and exceeding HK$ 30 billion in 20 15, an increase of nearly seven times in five years. From 20 16, there has been a substantial increase. According to the data of the Office of the Commissioner of Insurance of Hong Kong, the new office premiums of mainland visitors in the first three quarters of 20 16 reached HK$ 48.9 billion, an increase of 132% compared with the first three quarters of 20 15. In the first three quarters of 20 16, the new office premiums of mainland visitors accounted for 37% of the total office premiums of personal business (132.3 billion Hong Kong dollars), accounting for 20.3% and 210.7% in 20 14 and 20 15 respectively.

After the implementation of CRS, how far can Hong Kong insurance go?

China version of CRS (General Reporting Standard for Automatic Exchange of Tax-related Information in Financial Accounts) is being implemented, and many subtle changes are taking place. On July 1 day, the Administrative Measures on Due Diligence of Tax-related Information of Non-resident Financial Accounts will be implemented in China. This is due diligence on domestic financial accounts of specific groups. The assets under investigation include bank accounts, securities and insurance. , jointly implemented by People's Republic of China (PRC) State Taxation Administration of The People's Republic of China, Ministry of Finance, Central Bank of China, China Banking Regulatory Commission, China Insurance Regulatory Commission and China Securities Regulatory Commission. From 2065438 to September 2008, China Municipal Government will exchange the data obtained from this survey with the corresponding countries and regions for the first time, so as to obtain the financial account information of specific China people collected by other countries and regions.

This means that some China people's overseas financial assets will be exposed to the regulatory vision.

In China Mainland and Hongkong, the Common Reporting Standard (CRS) for automatic exchange of tax-related information in financial accounts was implemented one step ahead, starting from 20 17 1. CRS mainly focuses on overseas financial assets, including overseas bank deposits, insurance policies with cash value, stocks, trust beneficiary rights or equity of investment companies. It is one of the concerns of CRS that China taxpayers buy insurance in Hongkong. At the same time, starting from this year, the procedures for buying insurance and paying premiums in Hong Kong have become complicated, and each foreign exchange purchase form must be filled in with detailed purposes. If it is found that the purpose of purchasing foreign exchange is inconsistent with the actual purpose of purchasing foreign exchange, it shall bear the corresponding consequences.

Based on this, many China people go abroad to seek new investment and financial management tools, some of which are mainly American life insurance. It is worth noting that in recent years, the United States, the preferred country for global asset allocation of high-net-worth individuals in China, has not joined the CRS program related to China, because the United States is not a country or region that has signed or promised to sign the CRS published by the OECD, and is listed as a non-CRS participant. Although the United States has realized the exchange of tax-related information in financial accounts through the Overseas Account Tax Law, the real estate investment in the mainstream overseas asset allocation in the United States does not belong to CRS exchange information.

Who is suitable to buy American insurance?

1, people who intend to or have immigrated to the United States.

American insurance is a product designed according to the regulations of the Internal Revenue Service (IRS), and it can get huge tax benefits from insurance. At the same time, buying American insurance can be a useful supplement to the social security benefits provided by the government.

2. People who buy real estate in America.

Some people don't intend to emigrate, but they buy houses in America for investment or children's education. Overseas investors who buy houses in the United States face many risks: the risk of inheritance tax, the risk of loans and the risk of legal proceedings, and American insurance naturally has the function of dealing with these risks. Death compensation can pay inheritance tax and repay loans, and the cash value in insurance is not recovered through legal proceedings, which has the function of asset protection.

3. People who want to allocate dollar assets.

Since last year, due to the expectation of RMB depreciation, many people have sought ways to allocate US dollar assets. For an unfamiliar investment environment like the United States, most people have two choices: buying a house or buying insurance. The key to achieving a considerable rate of return on American real estate investment is to amplify leverage through loans and offset mortgages with rental income. However, on the one hand, American banks have many requirements for loans from overseas investors, and on the other hand, the hot housing market in the United States forces buyers to grab the house in full. Judging from historical data, the rate of return on this investment in real estate can only be comparable to the inflation rate, which is about 2~3%. In addition, real estate investment also has the disadvantages of high risk and poor liquidity. In contrast, the advantage of buying American insurance is that the yield follows the stock market breakeven, reaching 6-8% for a long time; Cash, like demand deposits, can be used at any time.

4. People seeking asset protection and risk isolation.

The domestic trust law has only been implemented for more than ten years, while the American trust law has a history of hundreds of years and is very perfect in legal protection. In addition, compared with Hong Kong, the United States is completely independent of the mainland in judicature, and there is no risk of government intervention. Therefore, adopting American trust and American insurance can protect assets and isolate risks to the maximum extent.

5. People who want to buy the best insurance.

Compared with Hong Kong insurance, American insurance has an advantage in premium. Take an actual customer as an example. 40-year-old male, paying $80,000 insurance premium every year for five years, with 800,000 insurance coverage in Hong Kong and 2 million in the United States. This huge premium difference, coupled with the record low domestic air ticket prices in the United States, makes American insurance more attractive to the most savvy insurance buyers.

All-round Overseas Life Planning "The Seventh Global Immigrant Real Estate Exhibition"

As an integrated service platform for overseas life planning from identity planning, home ownership planning, education planning to wealth planning, OCT Group will hold the "Overseas Chinese Life Planning Service Exhibition and the Seventh Global Immigrant Real Estate Exhibition" in the national/KOOC-0//KOOC-0/city from June/KOOC-0/7 to July/6. At the same time, there will be